Viridis’ Strategic Expansion De-Risks Colossus Production Pathway in Brazil
Viridis Mining and Minerals has significantly expanded its Colossus Rare Earth Elements project in Brazil, securing an additional 2,503.6 hectares adjacent to its existing licenses. This move, backed by robust government support and strategic partnerships, enhances the project's scale and de-risks its pathway to production.
- Acquisition of 2,503.6 hectares expands total landholding to ~23,468 hectares
- 46% increase in Northern Concessions and 144% expansion of Tamoyos District
- Strong government support including landmark MOU and environmental approvals
- Industrial land donated for rare earth innovation and recycling center (CRITR)
- Acquisition terms include US$3 million deferred payments and 5 million shares issuance
Strategic Expansion in a Global Rare Earth Hub
Viridis Mining and Minerals Limited has taken a decisive step to bolster its position in the rare earth elements sector by expanding its Colossus Project landholding in the Municipality of Poços de Caldas, Minas Gerais, Brazil. The company has executed an addendum to its binding agreement, securing an additional 2,503.6 hectares of mining rights contiguous to its existing licenses. This expansion lifts Viridis’ total landholding to approximately 23,468 hectares, consolidating its footprint in one of the world’s most promising Ionic Adsorption Clay (IAC) rare earth districts.
The Colossus Project already boasts a substantial 493 million tonnes mineral resource over 3,269 hectares, and this newly acquired ground provides a significant runway for further resource growth. Notably, the Northern Concessions, the heart of the project’s production facility and initial mining operations, have expanded by 46%, while the Tamoyos District, home to the highest-grade deposit within the resource base, has more than doubled in size with a 144% increase.
De-Risking Through Government Alignment and Approvals
Viridis’ expansion is underpinned by exceptional government support, a critical factor in advancing mining projects in Brazil. The company has secured a landmark Memorandum of Understanding (MOU) with the Municipality of Poços de Caldas, the only such agreement across the alkaline complex’s four municipalities. This MOU commits local authorities to assist Viridis in obtaining environmental licenses and operational authorizations, as well as infrastructure support including water, sewage, and electricity networks.
Further de-risking the project, Viridis has obtained the Certificate of Regularity for Land Use and Occupation, authorizing development activities across the Northern Concessions. Importantly, the project’s production facility and initial mining are located outside Environmental Preservation Areas and buffer zones, eliminating key regulatory hurdles and accelerating the path to production.
Innovation and Vertical Integration – The CRITR Facility
In a strategic move to establish a vertically integrated rare earth supply chain in Brazil, Viridis has been granted a 2,071 square meter industrial land parcel within the Poços de Caldas Industrial District. This site will host the Centre for Rare Earths Innovation, Technology and Recycling (CRITR), the first of its kind in South America. Scheduled to commence operations in the second half of 2026, CRITR will focus on refining, recycling, and technology development, positioning Viridis at the forefront of sustainable rare earth processing.
Attractive Acquisition Terms and Institutional Backing
The addendum to the binding agreement is structured on favorable terms, with a total consideration of US$3 million payable over three years starting in 2026 as an advanced royalty on future production. Additionally, Viridis will issue 5 million ordinary shares to the vendors, subject to shareholder approval and escrow arrangements, aligning vendor interests with those of shareholders.
Strategic partnerships with leading Brazilian asset managers ORE Investments Ltda. and Régia Capital Ltda., alongside endorsements from the Brazilian National Bank for Economic and Social Development (BNDES) and the Federal Agency for Studies and Projects (FINEP), further reinforce the project’s robust economic profile and clear regulatory pathway.
Looking Ahead – Advancing Towards Production
Viridis is advancing several key initiatives to progress the Colossus Project, including environmental permitting, development of a mixed rare earth carbonate demonstration plant, project financing, offtake strategy, and a definitive feasibility study. The company’s Managing Director, Rafael Moreno, highlighted that this expansion not only elevates the project’s scale but also strengthens its position as a dominant player in the global rare earths sector.
With high-grade mineralisation confirmed along newly acquired boundaries and a clear, accelerated path to production supported by government and institutional partners, Viridis is poised to transform Colossus into a world-class rare earths project of global significance.
Bottom Line?
Viridis’ strategic land expansion and strong government backing set the stage for Colossus to emerge as a global rare earths powerhouse.
Questions in the middle?
- How will the expanded landholdings impact the timing and scale of Colossus’ production ramp-up?
- What are the key milestones and risks remaining in the environmental permitting process?
- How will the CRITR facility influence Viridis’ vertical integration and competitive positioning?
